Fiat celebrates 50 years in Brazil, announces Argo X and R$30 bn investment

Fiat marked the 50th anniversary of its Brazilian operations with a ceremony in Betim, the site of its first plant opened on 9 July 1976. Executives John Elkann and Antonio Filosa attended and announced a R$30 billion investment plan through 2030 that will create about 2,000 jobs.

The automaker also unveiled a roadmap of five new model launches by 2030. The first, the Argo X, a Brazilian version of the Italian Grande Panda, is slated for September and will replace the current Argo while retaining the name to break a tradition of renaming models. The celebration featured a nighttime drone show with 1,600 drones.

Fiat, which has produced over 19 million vehicles in Brazil and leads the market, highlighted its historic models such as the 147, Strada and Toro as it looks to sustain its leadership with the upcoming launches.